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Friday, October 10, 2008

Kashkari to discuss bailout plan progress on Monday

Washington, Oct 9 (PTI) Neel Kashkari, the Indian-origin space engineer appointed by US government to oversee the USD 700-billion financial bailout, will detail out the progress on the implementation of the plan on Monday.

United States Treasury Secretary Henry Paulson has selected 35-year-old Kashkari as an Assistant Treasury Secretary to be the interim head of the government's rescue programme.Treasury Department said in a statement today that Treasury Interim Assistant Secretary for Financial Stability Neel Kashkari would deliver his remarks on Monday before the Institute of International Bankers in Washington.

Earlier, Paulson had said, "I have appointed an interim Assistant Secretary to manage the programme and begin its rapid implementation. I am currently working with the President to identify a leader to submit for confirmation, as called for in the legislation, to manage the programme and help ensure its long-term success." PTI